LITTLE RIVER CHAMBER OF COMMERCE A… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Tax Period

2021-01-01 to 2021-12-31

LITTLE RIVER CHAMBER OF COMMERCE AND VISITORS CENT, founded in 2004, is a small nonprofit in the Community Improvement sector that reported $378K in total revenue in fiscal year 2021. Revenue surged 149% from the prior year, signaling strong growth momentum. The organization ran a surplus of $80K, a strong 21% operating margin.

Mission

TO PROMOTE LOCAL BUSINESSES, COMMERCE AND THE LITTLE RIVER, SC AREA THROUGH MEMBER SERVICES, ADVERTISING AND PROMOTION OF TOURISM, FESTIVALS, AND OTHER COMMUNITY EVENTS BY PROACTIVE LEADERSHIP AND COMMUNITY INVOLVEMENT

Program Service Accomplishments

Program 1

Expenses: $132,243 Revenue: $191,381

MEMBERSHIP SERVICES - PART OF THE CHAMBERS MISSION IS TO BE A COMMUNITY LEADER AND ASSIST IN THE ECONOMIC DEVELOPMENT OF THE REGION. THE BENEFITS OF MEMBERSHIP ARE BOTH DIRECT AND SIGNIFICANT WITH...

MEMBERSHIP SERVICES - PART OF THE CHAMBERS MISSION IS TO BE A COMMUNITY LEADER AND ASSIST IN THE ECONOMIC DEVELOPMENT OF THE REGION. THE BENEFITS OF MEMBERSHIP ARE BOTH DIRECT AND SIGNIFICANT WITH OPPORTUNITIES FOR ADVERTISING, NETWORKING, REFERRALS, PERSONAL AND BUSINESS PARTICIPATION. BUSINESS AFTER HOURS AND RIBBON CUTTING GRAND OPENING EVENTS ALLOW AREA MEMBERS TO SHOWCASAE THEIR BUSINESS TO THE LOCAL COMMUNITY AND FELLOW BUSINESSES FESTIVALS AND EVENTS - THE FILING ORGANIZATION HOSTS A VARIETY OF COMMUNITY BASED FESTIVALS AND EVENTS THROUGHOUT THE YEAR. THE SHRIMPFEST IS AN ANNUAL FESTIVAL WHICH ATTRACTS OVER 12000 - 15000 VISITORS. THE WORLD FAMOUS BLUE CRAB FESTIVAL IS AN ANNUAL FESTIVAL WHICH ATTRACTS PEOPLE FROM THE LOCAL AREA AS WELL AS TOURISTS IN THE GRAND STRAND AREA. THESE FESITVALS ALLOW FOR THE PROMOTION OF THE LITTLE RIVER AREA ADVERTISING AND PROMOTION OF TOURISM - PART OF THE MISSION OF THE LITTLE RIVER CHAMBER OF COMMERCE IS TO PROVIDE COMMUNITY LEADERSHIP THROUGH THE PROMOTION OF ECONOMIC DEVELOPMENT INCLUDING TOURISM. THIS IS ACCOMPLISHED THROUGH THE RESOURCES OF STATE AND LOCAL ACCOMODATION TAX (A-TAX) FUNDS RECEIVED FROM GOVERNMENT TO USE TOWARD ADVERTISING AND PROMOTION OF TOURISM IN VARIOUS MEDIA OUTLETS INCLUDING THE INTERNET. ADDITIONALLY, THE CHAMBER MAINTAINS A VISITORS CENTER WHERE INFORMATION IS DISPLAYED AND AVAILABLE TO THE GENERAL PUBLIC ABOUT TOURISM, CLUBS, ORGANIZATIONS, BUSINESS, INDUSTRY, RELOCATION AND GENERAL INFORMATION ABOUT LITTLE RIVER, SC AREA PLUS WHERE TO STAY, PLAY, SHOP AND DINE, ETC

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $344,549

Program Service Revenue $27,797

Investment Income $328

Other Revenue $5,081

TOTAL REVENUE $377,755

Expense Breakdown

Grants Paid $0

Salaries & Benefits $133,736

Fundraising Expenses $42,312

Program Expenses $132,243

Other Expenses $163,586

TOTAL EXPENSES $297,322

Year-over-Year Comparison

	2021	2020	Change
Revenue	$377,755	$151,611	+1.5%
Expenses	$297,322	$239,617	+0.2%
Net Income	$80,433	$-88,006	-1.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHERRI CRAWFORD	DIRECTOR	2.00	Director	$0	$0	$0
HEIDE MISHOE	DIRECTOR	2.00	Director	$0	$0	$0
MATTHEW TOWNS	DIRECTOR	3.00	Director	$0	$0	$0
CARRIE KING	DIRECTOR	2.00	Director	$0	$0	$0
DONALD KETTNER	DIRECTOR	2.00	Director	$0	$0	$0
JIM MCCLEAN	DIRECTOR	2.00	Director	$0	$0	$0
LESTER GORE	DIRECTOR	2.00	Director	$0	$0	$0
RYAN WATERS	CHAIRMAN	2.00	Officer	$0	$0	$0
JENNIFER WALTERS	PRESIDENTCEO	40.00	Key Emp	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2021	$377,755	$297,322	$195,822	$80,433
2020	$151,611	$239,617	$133,975	$-88,006
2019	$556,039	$580,933	$71,157	$-24,894
2018	$581,212	$617,930	$90,938	$-36,718
2017	$592,248	$565,696	$130,434	$26,552

LITTLE RIVER CHAMBER OF COMMERCE AND VISITORS CENT